Friday, 15 December, 2017

Macy's Having Problems With Credit-Card Transactions

Retailers declare victory on Black Friday, though crowds were modest Report: Walmart closing in on Amazon in price war
Juana Turner | 28 November, 2017, 01:05

Cyber Monday sales will be even bigger than Black Friday sales, experts say.

And apparently those looking for online doorbusters started their shopping spree on Thanksgiving evening.

Online sales are expected to surpass $6 billion Monday, compared with last year's $3.45 billion figure, Adobe said.

Deal-hungry customers spent as much as $1 million per minute on the Internet at the height of Black Friday, e-commerce platform Shopify said. Earlier on Friday, Macy's CEO Jeff Gennette told The Associated Press said he was pleased with the kickoff to the season. On Black Friday itself, the tally for online spending was $5 billion, up massively from $3.34 billion previous year.

And that's good news for retailers this year. The research firm had previously reported Cyber Monday sales of $3.45 billion past year but restated that figure to $5.6 billion following a change in its methodology of calculating sales.

Cyber Monday is now expected to mark the biggest online shopping day in USA history, according to Adobe Insights, which measures 80 percent of digital transactions from 100 major retailers. Mobile sales have become a major sales driver for retailers during the recent shopping period and smartphone sales amounted to 46% of all retail website traffic on Thanksgiving.

Businesses are expecting a big holiday shopping season, fueled by a 4.1% unemployment rate, which is the lowest in 17 years.

Although the numbers hit a record high in the USA, they were still no match for the US$25.4 billion total online sales recorded during the 24-hour Singles' Day sales on Nov 11 - Alibaba's largest shopping festival.

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